Deloitte’s Technology, Media & Telecommunications industry group released the results of a US media consumption surveyâ€”apparently 71 percent of the â€œMillennial Generationâ€ (people aged 13 to 24) enjoy reading print magazines even though they know they could find the same information online. This suggests that even though â€œMillennials have â€œan affinity for traditional mediaâ€, 58 percent say that they use magazines to find out whatâ€™s hip and cool, such as music, cars, and clothes.
“Our survey offers a reality check on Millennials and sheds new light on their distinctive blending of both traditional and new media. While it confirmed that Millennials are leading the way with newer forms of communications such as text messaging, the survey also highlighted their desire for more time for hanging out with friends – a perennial teenage favorite, and decidedly low-tech,” said Tony Kern, principal with Deloitte & Touche LLP and Media & Entertainment sector leader. “And, notably, even when using high-tech communications, such as instant messaging (IM) or text messaging, their most frequent topic of conversation is quite traditional: their favorite TV shows.”
When Millennials find something they like, they â€œbroadcast it to their friendsâ€, and the power of this is extremely extensive. Of those who were surveyed, the majority said that they maintain large IM and texting lists. The average list size is 37 people, When they find a particular television show or website that they enjoy, they tell an average of 18 people. According to the survey, word of mouth is the most common reason for them to visit a website, followed by an ad on TV. Almost half (48 percent) visit television websites in a typical week.
The survey confirms that there is a huge demand for â€œUser-Generated Contentâ€. Apparently the 13 to 24 year olds spend the same amount of time at user-generated content sites as they do commercially-produced sites. 58 percent of those surveyed create personal content in a typical week, like videos, personal web pages, and blogs, and 71 percent of those surveyed regularly consume that content.
Deloitte’s Technology, Media & Telecommunications industry group went on to say in their press release today that according to the survey, â€œuser-generated content is not just for kids – there is a ‘trickle up’ effect, and the older generations are creating and consuming personal content as well. In fact, over a third of Matures (current ages 61-75) – 36 percent – reported that they regularly consume user-generated content.â€
“Clearly, Millennials are the generation whose tastes, behavior and demands will define the future of media,” concluded Kern. “But, all generations have in fact been affected by convergence and the resulting media democracy. The big issues for the broadcast industry, as well as device manufacturers, are understanding how consumer behaviors will impact ad dollars, what devices need to be developed, and how internal operations need to be realigned.”
The online survey was commissioned by Deloitte & Touche USA LLP and conducted by Harrison Group, an independent research company, between February 23 and March 6, 2007. The survey polled 2,211 consumers between the ages of 13 and 75. The survey results have a margin of error of plus or minus three percentage points.
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